Press Release Summary: Cornerstone Worldwide welcome latest rebound in the gold price after biggest weekly slide in 25 years
Press Release Body: Sources close to Cornerstone Worldwide report that news of the bounce in the price of gold following over-selling last week was greeted by the Asian based wealth management firm as an encouraging sign that the yellow metal has solid support at the $780 level.
Gold has been a resounding �buy� in Cornerstone Worldwide notes to investors for more than 2 years.
Gold futures for December delivery rose $11.30, or 1.4 percent, to $803.40 an ounce at 11:56 a.m. on the Comex division of the NYMEX. The price has fallen 22 percent from a record $1,033.90 reached on March 17.
An unnamed source close to strategists at Cornerstone Worldwide said that the firm expects gold to rise considerably in the long-term as investors come to terms with what the firm has, in the past, dubbed the �800lb inflation gorilla in the room�.
Cornerstone Worldwide are thought to be convinced that the recent strength in the US dollar will flag as credit markets and financial continue to display weakness.
2025
